Deputy Minister of Finance of the people’s Republic of China, Zhu Guangyao’m sure with the economy it will be all right. He stated that there are adequate provisions and administrative resources with which the Ministry of Finance of China is going to maneuver in response to the ongoing crisis.
People’s Republic of China is the third day updates the 5 year lows against the yuan to the dollar, causing some panic in the stock markets. Skeptics are predicting China’s prolonged economic crisis. The debt grows, the yuan is falling rapidly, and offer too much higher than the demand.
Zhu guanyao also sure that early reform on the supply side will help to avoid long-term negative effects. However, production overcapacity will have to be reduced, leading to loss of revenue, the closure of some enterprises and shops, as well as growing unemployment for China is really bad.
